I'm a thirty-year veteran of Wall Street and an outspoken critic of ineffective regulation and an advocate for economic and political sanity. Following a career as an in-house lawyer and industry regulator, I am now in private practice representing member firms, registered persons, Whistleblowers, and defrauded investors. I publish the RRBDlaw.com and the BrokeAndBroker.com websites.

6/13/2011 @ 8:12AM4,634 views

Respondents Lehmann and Halverstadt are given an off-set of $100,000.00 due to loss of income attributable to delays and difficulties in the transition process, which reduced the amounts respectively owed to Claimant MSSB to $1,996,032.00 and $2,110.714.60.

Respondents Lehmann and Halverstadt are jointly and severally liable for and shall pay to Claimant $75,000.00 in attorneys’ fees and costs.

Claimant MSSB’s cause of action for injunctive relief for violation of the Protocol on Broker Recruiting is found to be moot, and accordingly, denied.

Based on the evidence presented at the arbitration hearing, the Panel found that Respondents did not have the exclusive right to use the name “Sullivan Group.”

Respondents Lehmann and Halverstadt were found to have breached the protocol and non-solicitation agreement, and are jointly and severally liable for and ordered to pay to Claimant an additional $100,000.00 in compensatory damages.

Respondents Lehmann and Halverstadt are ordered to return or destroy any confidential and/or trade secret information of Claimant in Respondents’ possession and/or control.

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